I believe you are correct. The translation of the characters is '5 Continets'
Now prior to anyone getting the idea I can read Chinese take alook in the back of the previous Gaming table.
Mai Chow Social Club
Walnut Creek, CA
Mold: DIASQR and SQSQDI
There is alos the reverse of this chip shown along with another design

Hope this helps.
Wishing all enough,
Dick Staeffler